Binance Let $1.7B Move Despite Compliance Promises
Update: 2025-12-22
Description
Binance allowed high-risk accounts to move $1.7 billion in cryptocurrency, including $144 million after a 2023 plea deal with US authorities. These accounts, linked to individuals in Venezuela, Brazil, Syria, Niger, and China, displayed suspicious activity, such as frequent bank detail changes. Former prosecutors and digital asset experts highlight the need for stronger real-time checks and surveillance. Binance previously settled for $4.3 billion in 2023, promising better monitoring, but still missed reporting over 100,000 shady transactions. This news raises questions about the effectiveness of crypto compliance measures, following founder Changpeng Zhaos pardon by President Trump.
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